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Mortgage Market Update
My Mortgage Company
Sean Ewbank
Friday, November 6, 2026
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Is refinancing worth it for your home? |
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Hi there. One of the most common questions I hear is whether now is a good time to refinance. Let me break down what actually matters when you're thinking about it.
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National Mortgage Rates · November 5, 2026
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Conventional 30-Year
7.18%
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Source: Optimal Blue daily mortgage indices via FRED · 30-yr: Freddie Mac weekly survey
Rates shown are national mortgage index rates and are provided for informational purposes only. Actual rates vary based on credit profile, loan amount, and market conditions. Please contact us for a personalized rate quote.
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Refinancing Strategy
When does refinancing actually make sense?
A lot of people ask me whether they should refinance, and the honest answer is: it depends on your goals and timeline. Refinancing can lower your monthly payment, help you pay off your loan faster, or tap into your home's equity for a project or expense. But it also comes with closing costs and a reset clock on your loan term. The key is understanding what you're trying to achieve and whether the numbers work in your favor over the time you plan to stay in the home. That's where a real conversation helps—not a sales pitch, just clarity on what makes sense for your situation. If you've been wondering whether refinancing could work for you, I'd like to walk through the numbers together.
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Tip of the Week
Closing costs typically run 2-5% of the loan amount. Ask your lender for a Loan Estimate so there are no surprises.
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Tips for Homeowners
Protecting Yourself from Mortgage Scams
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1.
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Wire fraud is one of the fastest-growing real estate scams. Never wire closing funds based solely on email instructions — always verify account numbers by calling your title company at a number you look up yourself.
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2.
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Loan modification and foreclosure rescue scams target homeowners in distress. Legitimate help is available free through HUD-approved counseling agencies at 800-569-4287.
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3.
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Be wary of unsolicited offers to refinance or cash out equity at terms that sound unusually favorable. If someone contacts you out of the blue, verify their NMLS license number at nmlsconsumeraccess.org.
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Have questions about how any of this affects your mortgage or home purchase? We're here to help — reach out to the My Mortgage Company team any time and we'll walk you through your options. |
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Your Mortgage Advisor
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My Mortgage Company
Sean Ewbank
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